Van ECK Associates Corp Grows Position in Hecla Mining Company $HL

Van ECK Associates Corp grew its position in Hecla Mining Company (NYSE:HL - Free Report) by 15.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,174,114 shares of the basic materials company's stock after acquiring an additional 5,053,624 shares during the quarter. Van ECK Associates Corp owned 5.68% of Hecla Mining worth $589,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HL. BlackRock Inc. purchased a new position in shares of Hecla Mining in the second quarter valued at $1,085,779,000. Arrowstreet Capital Limited Partnership raised its stake in Hecla Mining by 86.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 12,715,100 shares of the basic materials company's stock valued at $244,003,000 after purchasing an additional 5,906,313 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Hecla Mining by 40.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,052,346 shares of the basic materials company's stock valued at $102,144,000 after purchasing an additional 4,928,130 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Hecla Mining during the fourth quarter valued at $88,417,000. Finally, State Street Corp grew its stake in shares of Hecla Mining by 14.8% in the 3rd quarter. State Street Corp now owns 34,485,817 shares of the basic materials company's stock worth $417,278,000 after buying an additional 4,453,706 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

Hecla Mining Trading Down 4.6%

Hecla Mining stock opened at $20.45 on Friday. The firm has a 50-day moving average price of $16.59 and a 200-day moving average price of $18.22. The firm has a market capitalization of $13.74 billion, a PE ratio of 41.73 and a beta of 1.32. Hecla Mining Company has a 12-month low of $8.07 and a 12-month high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The firm had revenue of $333.85 million during the quarter, compared to analysts' expectations of $368.75 million. Hecla Mining had a return on equity of 18.91% and a net margin of 20.84%.The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. As a group, sell-side analysts predict that Hecla Mining Company will post 0.46 earnings per share for the current fiscal year.

Hecla Mining Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 26th will be issued a $0.0038 dividend. This represents a $0.01 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, August 26th. Hecla Mining's dividend payout ratio is presently 2.04%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HL. Jefferies Financial Group began coverage on shares of Hecla Mining in a report on Thursday, August 20th. They issued a "hold" rating and a $22.00 target price on the stock. Wall Street Zen lowered Hecla Mining from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Scotiabank reduced their price objective on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings upgraded Hecla Mining from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Finally, HC Wainwright lowered their price objective on Hecla Mining from $36.50 to $26.75 and set a "buy" rating for the company in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $23.82.

Hecla Mining Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d'Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d'Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company's principal operations are located in North America and Latin America.

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